Portland USDA Loan Rates, Closing Costs & Stats

PORTLAND-VANCOUVER-HILLSBORO, OR-WA

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Portland's 18 lenders originated 31 USDA loans during 2023. The total origination value was $11,105,000, with an average USDA loan value of $358,226.

Portland USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Portland averaged 6.71% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Portland's average USDA mortgage closing costs are $8,415.

The average rate for the prior week (2024-04-05) was 6.63% and one month ago for the week of 2024-03-08, the average rate was 6.29%.

The average rate one year ago was 6.4%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.86%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Portland USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Portland level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GUILD MORTGAGE COMPANY 6 6.42% $12,400
UNITED WHOLESALE MORTGAGE, LLC 4 5.77% $15,591
PACIFIC RESIDENTIAL MORTGAGE, LLC 3 6.42% $13,999
MORTGAGE EXPRESS, LLC 2 6.31% $11,151
CROSSCOUNTRY MORTGAGE, LLC 2 5.84% $10,409
Loan Simple, Inc. 1 6.63% $10,688
LPMC, LLC 1 6.13% $14,971
MASON MCDUFFIE MORTGAGE CORPORATION 1 6.63% $6,694
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $19,303
S1L, Inc. 1 5.75% $11,210
Sierra Pacific Mortgage Company, Inc. 1 5.50% $10,975
SUMMIT MORTGAGE CORPORATION 1 6.13% $10,655
AMERICAN FINANCIAL NETWORK, INC. 1 5.50% $18,655
U.S. Bank 1 6.25% $10,415
CMG MORTGAGE, INC. 1 7.50% $9,710
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 7.75% $9,257
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $14,350
LEADERONE FINANCIAL CORPORATION 1 5.63% $12,025

The top Portland USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 6 USDA loans originated. Their average total fees are $12,400, which is $3,190 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Portland USDA lenders (with over 10 loans originated) are .

The lowest rate Portland USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $476,538 (4.2%) $624,738 (3.7%) 1.77 4,642
2018-02-01 $482,475 (2.1%) $639,191 (4.1%) 1.75 4,444
2018-03-01 $495,000 (3.0%) $639,960 (2.1%) 1.74 4,759
2018-04-01 $499,000 (2.9%) $638,700 (1.7%) 1.69 5,380
2018-05-01 $499,700 (2.0%) $639,825 (1.6%) 1.67 6,268
2018-06-01 $495,945 (1.6%) $629,965 (1.6%) 1.65 7,129
2018-07-01 $484,500 (0.9%) $616,379 (1.5%) 1.62 8,101
2018-08-01 $479,000 (0.8%) $604,146 (0.9%) 1.60 8,623
2018-09-01 $472,000 (0.6%) $593,493 (0.3%) 1.59 8,950
2018-10-01 $469,900 (0.1%) $590,304 (-0.3%) 1.59 8,693
2018-11-01 $469,900 (0.0%) $593,258 (-1.0%) 1.59 8,070
2018-12-01 $469,900 (-1.1%) $601,163 (-2.1%) 1.62 6,944
2019-01-01 $473,044 (-0.7%) $603,633 (-3.4%) 1.63 6,164
2019-02-01 $477,949 (-0.9%) $611,933 (-4.3%) 1.61 6,019
2019-03-01 $480,657 (-2.9%) $611,249 (-4.5%) 1.57 6,278
2019-04-01 $475,720 (-4.7%) $604,133 (-5.4%) 1.51 6,832
2019-05-01 $478,950 (-4.2%) $604,692 (-5.5%) 1.50 7,392
2019-06-01 $479,000 (-3.4%) $601,300 (-4.6%) 1.50 8,307
2019-07-01 $474,950 (-2.0%) $598,894 (-2.8%) 1.49 8,601
2019-08-01 $473,291 (-1.2%) $598,581 (-0.9%) 1.50 8,498
2019-09-01 $470,877 (-0.2%) $597,153 (0.6%) 1.51 8,255
2019-10-01 $465,350 (-1.0%) $590,927 (0.1%) 1.50 7,952
2019-11-01 $463,980 (-1.3%) $593,276 (0.0%) 1.52 6,942
2019-12-01 $466,500 (-0.7%) $597,951 (-0.5%) 1.56 5,651
2020-01-01 $472,170 (-0.2%) $609,994 (1.1%) 1.58 4,866
2020-02-01 $479,000 (0.2%) $616,550 (0.8%) 1.57 4,427
2020-03-01 $479,450 (-0.3%) $621,009 (1.6%) 1.50 4,816
2020-04-01 $475,725 (0.0%) $607,767 (0.6%) 1.49 5,676
2020-05-01 $488,500 (2.0%) $617,166 (2.1%) 1.48 5,748
2020-06-01 $499,000 (4.2%) $631,032 (4.9%) 1.47 5,376
2020-07-01 $499,900 (5.3%) $642,495 (7.3%) 1.45 5,134
2020-08-01 $499,960 (5.6%) $650,939 (8.8%) 1.43 5,056
2020-09-01 $499,980 (6.2%) $654,864 (9.7%) 1.43 4,745
2020-10-01 $510,000 (9.6%) $661,247 (11.9%) 1.46 4,499
2020-11-01 $512,500 (10.5%) $669,846 (12.9%) 1.50 3,848
2020-12-01 $507,500 (8.8%) $674,314 (12.8%) 1.51 2,958
2021-01-01 $499,900 (5.9%) $682,776 (11.9%) 1.49 2,486
2021-02-01 $502,880 (5.0%) $691,012 (12.1%) 1.46 2,244
2021-03-01 $511,875 (6.8%) $684,314 (10.2%) 1.45 2,403
2021-04-01 $525,000 (10.4%) $693,193 (14.1%) 1.42 2,637
2021-05-01 $549,900 (12.6%) $717,025 (16.2%) 1.46 2,848
2021-06-01 $554,950 (11.2%) $726,786 (15.2%) 1.46 3,337
2021-07-01 $555,000 (11.0%) $731,698 (13.9%) 1.46 3,758
2021-08-01 $550,000 (10.0%) $722,960 (11.1%) 1.47 3,852
2021-09-01 $550,000 (10.0%) $724,111 (10.6%) 1.47 3,995
2021-10-01 $550,000 (7.8%) $721,293 (9.1%) 1.47 3,908
2021-11-01 $550,000 (7.3%) $725,117 (8.3%) 1.47 3,127
2021-12-01 $549,250 (8.2%) $728,293 (8.0%) 1.49 2,376
2022-01-01 $550,000 (10.0%) $739,209 (8.3%) 1.49 1,835
2022-02-01 $561,950 (11.8%) $737,166 (6.7%) 1.46 1,923
2022-03-01 $573,950 (12.1%) $737,757 (7.8%) 1.44 2,142
2022-04-01 $585,000 (11.4%) $754,828 (8.9%) 1.39 2,343
2022-05-01 $597,450 (8.7%) $760,144 (6.0%) 1.37 3,414
2022-06-01 $599,995 (8.1%) $762,564 (4.9%) 1.34 4,391
2022-07-01 $599,000 (7.9%) $754,182 (3.1%) 1.35 5,649
2022-08-01 $590,500 (7.4%) $746,184 (3.2%) 1.37 5,810
2022-09-01 $589,900 (7.3%) $761,963 (5.2%) 1.38 5,839
2022-10-01 $579,900 (5.4%) $760,826 (5.5%) 1.36 5,852
2022-11-01 $582,478 (5.9%) $769,365 (6.1%) 1.40 5,511
2022-12-01 $589,900 (7.4%) $779,861 (7.1%) 1.46 4,556
2023-01-01 $597,450 (8.6%) $793,439 (7.3%) 1.48 3,810
2023-02-01 $607,050 (8.0%) $812,754 (10.3%) 1.47 3,391
2023-03-01 $614,896 (7.1%) $825,588 (11.9%) 1.45 3,384
2023-04-01 $629,000 (7.5%) $834,101 (10.5%) 1.46 3,543
2023-05-01 $639,687 (7.1%) $829,802 (9.2%) 1.45 4,148
2023-06-01 $640,000 (6.7%) $824,741 (8.2%) 1.44 4,745
2023-07-01 $639,900 (6.8%) $826,915 (9.6%) 1.45 5,311
2023-08-01 $637,725 (8.0%) $826,434 (10.8%) 1.46 5,503
2023-09-01 $625,000 (6.0%) $811,158 (6.5%) 1.46 5,656
2023-10-01 $619,995 (6.9%) $806,580 (6.0%) 1.46 5,748
2023-11-01 $603,725 (3.7%) $795,828 (3.4%) 1.44 5,587
2023-12-01 $600,000 (1.7%) $799,713 (2.6%) 1.46 4,897
2024-01-01 $603,772 (1.1%) $804,123 (1.4%) 1.47 4,261
2024-02-01 $600,000 (-1.2%) $802,232 (-1.3%) 1.44 4,106
2024-03-01 $605,000 (-1.6%) $806,258 (-2.3%) 1.42 4,288
Portland's median listing price for 2024-03-01 was $605,000, a difference of $-9,896 (-1.6%) versus the prior year and $5,000 versus the prior month.

Portland's median listing price comes in at 142% of the national average.

Portland's average listing price for 2024-03-01 was $806,258, a difference of $-19,330 (-2.3%) versus the prior year and $4,026 versus the prior month.

For the 2024-03-01 period, Portland had 4,288 MLS listings, a difference of 182 listings (4%) versus the prior month and 904 listings (27%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 62 days 2,269 sqft
2018-02-01 42 days 2,276 sqft
2018-03-01 34 days 2,273 sqft
2018-04-01 30 days 2,278 sqft
2018-05-01 30 days 2,279 sqft
2018-06-01 32 days 2,250 sqft
2018-07-01 37 days 2,219 sqft
2018-08-01 38 days 2,190 sqft
2018-09-01 44 days 2,159 sqft
2018-10-01 49 days 2,145 sqft
2018-11-01 56 days 2,150 sqft
2018-12-01 67 days 2,144 sqft
2019-01-01 69 days 2,139 sqft
2019-02-01 47 days 2,156 sqft
2019-03-01 39 days 2,146 sqft
2019-04-01 35 days 2,133 sqft
2019-05-01 32 days 2,141 sqft
2019-06-01 36 days 2,159 sqft
2019-07-01 39 days 2,151 sqft
2019-08-01 43 days 2,137 sqft
2019-09-01 47 days 2,131 sqft
2019-10-01 50 days 2,113 sqft
2019-11-01 61 days 2,100 sqft
2019-12-01 74 days 2,098 sqft
2020-01-01 74 days 2,113 sqft
2020-02-01 55 days 2,112 sqft
2020-03-01 42 days 2,096 sqft
2020-04-01 43 days 2,097 sqft
2020-05-01 53 days 2,107 sqft
2020-06-01 50 days 2,121 sqft
2020-07-01 43 days 2,107 sqft
2020-08-01 42 days 2,102 sqft
2020-09-01 49 days 2,080 sqft
2020-10-01 57 days 2,056 sqft
2020-11-01 62 days 2,048 sqft
2020-12-01 64 days 2,000 sqft
2021-01-01 51 days 1,942 sqft
2021-02-01 37 days 1,881 sqft
2021-03-01 32 days 1,903 sqft
2021-04-01 30 days 1,912 sqft
2021-05-01 30 days 1,947 sqft
2021-06-01 27 days 1,975 sqft
2021-07-01 33 days 1,978 sqft
2021-08-01 37 days 1,965 sqft
2021-09-01 40 days 1,961 sqft
2021-10-01 42 days 1,931 sqft
2021-11-01 51 days 1,908 sqft
2021-12-01 49 days 1,861 sqft
2022-01-01 59 days 1,852 sqft
2022-02-01 28 days 1,832 sqft
2022-03-01 28 days 1,835 sqft
2022-04-01 26 days 1,851 sqft
2022-05-01 23 days 1,929 sqft
2022-06-01 24 days 1,982 sqft
2022-07-01 30 days 2,001 sqft
2022-08-01 37 days 2,002 sqft
2022-09-01 44 days 1,996 sqft
2022-10-01 44 days 1,989 sqft
2022-11-01 51 days 1,995 sqft
2022-12-01 65 days 2,001 sqft
2023-01-01 72 days 2,021 sqft
2023-02-01 53 days 2,039 sqft
2023-03-01 44 days 2,043 sqft
2023-04-01 37 days 2,064 sqft
2023-05-01 34 days 2,088 sqft
2023-06-01 34 days 2,094 sqft
2023-07-01 38 days 2,111 sqft
2023-08-01 41 days 2,112 sqft
2023-09-01 45 days 2,080 sqft
2023-10-01 48 days 2,057 sqft
2023-11-01 54 days 2,024 sqft
2023-12-01 66 days 2,004 sqft
2024-01-01 71 days 2,006 sqft
2024-02-01 55 days 1,998 sqft
2024-03-01 45 days 1,996 sqft
Portland's median listing age (time on market) for 2024-03-01 was 45 days. This is 3% longer than the same period one year ago.

Portland's median square footage for active listings during the 2024-03-01 period was 1,996 sqft. One year prior, the average listing was 2,043 sqft.